Logitech International (LOGI) 10-Q21 Jan 212021 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Dec. 31, 2020	Jan. 06, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity File Number	0-29174
Entity Registrant Name	LOGITECH INTERNATIONAL S.A.
Entity Incorporation, State or Country Code	V8
Entity Address, Address Line One	1015 Lausanne
Entity Address, Country	CH
Entity Address, Address Line Two	c/o Logitech Inc.
Entity Address, Address Line Two	7700 Gateway Boulevard
Entity Address, City or Town	Newark
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94560
City Area Code	510
Local Phone Number	795-8500
Title of 12(b) Security	Registered Shares
Trading Symbol	LOGI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		168,921,326
Entity Central Index Key	0001032975
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net sales	$ 1,667,302	$ 902,687	$ 3,716,354	$ 2,266,603
Cost of goods sold	914,851	564,283	2,082,088	1,410,605
Amortization of intangible assets	3,441	3,951	9,800	10,493
Gross profit	749,010	334,453	1,624,466	845,505
Operating expenses:
Marketing and selling	204,485	134,950	496,520	392,138
Research and development	53,910	43,292	157,014	127,499
General and administrative	37,606	22,344	98,341	68,551
Amortization of intangible assets and acquisition-related costs	4,946	5,084	13,886	12,898
Change in fair value of contingent consideration for business acquisition	0	0	5,716	0
Restructuring charges (credits), net	0	(45)	(54)	69
Total operating expenses	300,947	205,625	771,423	601,155
Operating income	448,063	128,828	853,043	244,350
Interest income	311	2,063	1,444	7,006
Other income, net	6,483	1,101	9,661	2,852
Income before income taxes	454,857	131,992	864,148	254,208
Provision for income taxes	72,334	14,467	142,638	18,405
Net income	$ 382,523	$ 117,525	$ 721,510	$ 235,803
Net income per share:
Basic (in dollars per share)	$ 2.26	$ 0.70	$ 4.28	$ 1.41
Diluted (in dollars per share)	$ 2.22	$ 0.69	$ 4.21	$ 1.39
Weighted average shares used to compute net income per share:
Basic (in shares)	169,050	167,063	168,448	166,678
Diluted (in shares)	172,587	169,685	171,378	169,173

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 382,523	$ 117,525	$ 721,510	$ 235,803
Other comprehensive income (loss):
Currency translation gain (loss), net of taxes	19,500	1,736	23,944	(2,639)
Reclassification of currency translation loss included in other income, net	0	0	(1,738)	0
Defined benefit plans:
Net loss and prior service costs, net of taxes	(863)	(231)	(319)	(274)
Amortization included in other income, net	178	53	523	160
Hedging gain (loss):
Deferred hedging gain (loss), net of taxes	(6,326)	(1,381)	(9,752)	56
Reclassification of hedging loss included in cost of goods sold	3,446	(739)	5,085	(1,097)
Total other comprehensive income (loss)	15,935	(562)	17,743	(3,794)
Total comprehensive income	$ 398,458	$ 116,963	$ 739,253	$ 232,009

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 1,388,743	$ 715,566
Accounts receivable, net	894,937	394,743
Inventories	476,802	229,249
Other current assets	117,741	74,920
Total current assets	2,878,223	1,414,478
Non-current assets:
Property, plant and equipment, net	96,683	76,119
Goodwill	400,993	400,917
Other intangible assets, net	103,314	126,941
Other assets	333,733	345,019
Total assets	3,812,946	2,363,474
Current liabilities:
Accounts payable	811,786	259,120
Accrued and other current liabilities	704,573	455,024
Total current liabilities	1,516,359	714,144
Non-current liabilities:
Income taxes payable	60,799	40,788
Other non-current liabilities	134,021	119,274
Total liabilities	1,711,179	874,206
Commitments and contingencies
Shareholders’ equity:
Registered shares, CHF 0.25 par value: Issued shares - 173,106 at September 30 and March 31, 2020 Additional shares that may be be issued out of conditional capitals - 50,000 at September 30 and March 31, 2020 Additional shares that may be issued out of authorized capitals - 17,311 at September 30 and 34,621 at March 31, 2020	30,148	30,148
Additional paid-in capital	108,140	75,097
Shares in treasury, at cost — 4,243 at December 31, 2020 and 6,210 at March 31, 2020	(198,435)	(185,896)
Retained earnings	2,264,831	1,690,579
Accumulated other comprehensive loss	(102,917)	(120,660)
Total shareholders’ equity	2,101,767	1,489,268
Total liabilities and shareholders’ equity	$ 3,812,946	$ 2,363,474

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - SFr / shares shares in Thousands	Dec. 31, 2020	Mar. 31, 2020
Statement of Financial Position [Abstract]
Shares, par value (in CHF per share)	SFr 0.25	SFr 0.25
Shares issued (in shares)	173,106	173,106
Shares that may be issued out of conditional capital (in shares)	50,000	50,000
Shares that may be issued out of the authorized capital (in shares)	17,311	34,621
Treasury, at cost, shares (in shares)	4,243	6,210

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net income	$ 721,510	$ 235,803
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	36,010	32,154
Amortization of intangible assets	23,627	21,958
Loss on investments	4,692	772
Share-based compensation expense	64,714	40,301
Deferred income taxes	37,683	480
Change in fair value of contingent consideration for business acquisition	5,716	0
Other	(1,670)	(1,012)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	(476,804)	(147,292)
Inventories	(239,378)	(15,170)
Other assets	(53,281)	2,866
Accounts payable	541,024	155,190
Accrued and other liabilities	264,576	(1,896)
Net cash provided by operating activities	928,419	324,154
Cash flows from investing activities:
Purchases of property, plant and equipment	(46,163)	(28,667)
Investment in privately held companies	(3,525)	(310)
Acquisitions, net of cash acquired	(360)	(91,569)
Proceeds from the sale of property, plant and equipment	0	1,037
Proceeds from return of strategic investments	2,934	0
Purchases of trading investments	(10,672)	(3,071)
Proceeds from sales of trading investments	11,332	3,139
Net cash used in investing activities	(46,454)	(119,441)
Cash flows from financing activities:
Payment of cash dividends	(146,705)	(124,180)
Purchases of registered shares	(72,725)	(15,127)
Proceeds from exercises of stock options and purchase rights	29,709	11,540
Tax withholdings related to net share settlements of restricted stock units	(29,475)	(23,096)
Net cash used in financing activities	(219,196)	(150,863)
Effect of exchange rate changes on cash and cash equivalents	10,408	(2,320)
Net increase in cash and cash equivalents	673,177	51,530
Cash and cash equivalents, beginning of the period	715,566	604,516
Cash and cash equivalents, end of the period	1,388,743	656,046
Non-cash investing and financing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts	14,663	4,871
Non-cash contingent consideration for acquisition	$ 28,463	$ 0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Registered Shares	Additional Paid-in Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Loss	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, AdjustmentRetained Earnings
Beginning of the period at Mar. 31, 2019	$ 1,176,339	$ 30,148	$ 56,655	$ (169,802)	$ 1,365,036	$ (105,698)
Beginning of the period (in shares) at Mar. 31, 2019		173,106		7,244
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	232,009				235,803	(3,794)
Purchases of registered shares	(15,127)			$ (15,127)
Purchase of registered shares (in shares)				389
Sales of shares upon exercise of stock options and purchase rights	11,540		2,607	$ 8,933
Sales of shares upon exercise of stock options and purchase rights (in shares)				(604)
Issuance of shares upon vesting of restricted stock units	(23,096)		(39,902)	$ 16,806
Issuance of shares upon vesting of restricted stock units (in shares)				(1,128)
Share-based compensation	40,308		40,308
Cash dividends	(124,180)				(124,180)
End of the period at Dec. 31, 2019	1,297,793	$ 30,148	59,668	$ (159,190)	1,476,659	(109,492)
End of the period (in shares) at Dec. 31, 2019		173,106		5,901
Beginning of the period at Sep. 30, 2019	1,167,537	$ 30,148	50,913	$ (163,728)	1,359,134	(108,930)
Beginning of the period (in shares) at Sep. 30, 2019		173,106		6,203
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	116,963				117,525	(562)
Sales of shares upon exercise of stock options and purchase rights	1,640		(1,551)	$ 3,191
Sales of shares upon exercise of stock options and purchase rights (in shares)				(213)
Issuance of shares upon vesting of restricted stock units	(2,188)		(3,535)	$ 1,347
Issuance of shares upon vesting of restricted stock units (in shares)				(89)
Share-based compensation	13,841		13,841
End of the period at Dec. 31, 2019	1,297,793	$ 30,148	59,668	$ (159,190)	1,476,659	(109,492)
End of the period (in shares) at Dec. 31, 2019		173,106		5,901
Beginning of the period at Mar. 31, 2020	1,489,268	$ 30,148	75,097	$ (185,896)	1,690,579	(120,660)	$ (553)	$ (553)
Beginning of the period (in shares) at Mar. 31, 2020		173,106		6,210
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	739,253				721,510	17,743
Purchases of registered shares	(72,725)			$ (72,725)
Purchase of registered shares (in shares)				915
Sales of shares upon exercise of stock options and purchase rights	29,709		(1,368)	$ 31,077
Sales of shares upon exercise of stock options and purchase rights (in shares)				(1,461)
Issuance of shares upon vesting of restricted stock units	(29,475)		(48,968)	$ 19,493
Issuance of shares upon vesting of restricted stock units (in shares)				(1,031)
Issuance of shares for contingent consideration	28,463		18,847	$ 9,616
Issuance of shares for contingent consideration (in shares)				(390)
Share-based compensation	64,532		64,532
Cash dividends	(146,705)				(146,705)
End of the period at Dec. 31, 2020	2,101,767	$ 30,148	108,140	$ (198,435)	2,264,831	(102,917)
End of the period (in shares) at Dec. 31, 2020		173,106		4,243
Beginning of the period at Sep. 30, 2020	1,705,963	$ 30,148	78,617	$ (166,258)	1,882,308	(118,852)
Beginning of the period (in shares) at Sep. 30, 2020		173,106		4,357
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	398,458				382,523	15,935
Purchases of registered shares	(50,271)			$ (50,271)
Purchase of registered shares (in shares)				603
Sales of shares upon exercise of stock options and purchase rights	3,643		(2,733)	$ 6,376
Sales of shares upon exercise of stock options and purchase rights (in shares)				(250)
Issuance of shares upon vesting of restricted stock units	(3,731)		(5,833)	$ 2,102
Issuance of shares upon vesting of restricted stock units (in shares)				(77)
Issuance of shares for contingent consideration	28,463		18,847	$ 9,616
Issuance of shares for contingent consideration (in shares)				(390)
Share-based compensation	19,242		19,242
End of the period at Dec. 31, 2020	$ 2,101,767	$ 30,148	$ 108,140	$ (198,435)	$ 2,264,831	$ (102,917)
End of the period (in shares) at Dec. 31, 2020		173,106		4,243

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	3 Months Ended				9 Months Ended
	Dec. 31, 2020SFr / shares	Dec. 31, 2020$ / shares	Dec. 31, 2019SFr / shares	Dec. 31, 2019$ / shares	Dec. 31, 2020SFr / shares	Dec. 31, 2020$ / shares	Dec. 31, 2019SFr / shares	Dec. 31, 2019$ / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share) \| (per share)	SFr 0.79	$ 0.87	SFr 0.73	$ 0.74	SFr 0.79	$ 0.87	SFr 0.73	$ 0.74

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies and Estimates	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
The Company and Summary of Significant Accounting Policies and Estimates	The Company and Summary of Significant Accounting Policies and Estimates The Company Logitech International S.A, together with its consolidated subsidiaries, (Logitech or the Company) designs, manufactures and markets products that have an everyday place in people's lives, connecting them to the digital experiences they care about. Almost 40 years ago, Logitech created products to improve experiences around the personal PC platform, and today it is a multi-brand, multi-category company designing products that enable better experiences consuming, sharing and creating any digital content such as computing, gaming, video and music, whether it is on a computer, mobile device or in the cloud. The Company sells its products to a broad network of domestic and international customers, including direct sales to retailers and e-tailers and indirect sales through distributors. Logitech was founded in Switzerland in 1981 and Logitech International S.A. has been the parent holding company of Logitech since 1988. Logitech International S.A. is a Swiss holding company with its registered office in Apples, Switzerland and headquarters in Lausanne, Switzerland, which conducts its business through subsidiaries in the Americas, Europe, Middle East and Africa (EMEA) and Asia Pacific. Shares of Logitech International S.A. are listed on both the SIX Swiss Exchange under the trading symbol LOGN and the Nasdaq Global Select Market under the trading symbol LOGI. Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and therefore do not include all the information required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2020, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 27, 2020. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three and nine months ended December 31, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2021, or any future periods. Changes in Significant Accounting Policies Other than the recent accounting pronouncements adopted and discussed below under Recent Accounting Pronouncements Adopted , there have been no material changes in the Company’s significant accounting policies during the nine months ended December 31, 2020 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2020. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve fair value of goodwill and intangible assets acquired from business acquisitions, valuation of right-of-use assets, valuation of investment in privately held companies classified under Level 3 of the fair value hierarchy, pensions obligations, warranty liabilities, accruals for customer incentives, cooperative marketing, and pricing programs (Customer Programs) and related breakage when appropriate, accrued sales return liability, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from these estimates. Risks and Uncertainties We are subject to risks and uncertainties as a result of the novel coronavirus (COVID-19). Capital markets and economies worldwide have been negatively impacted by COVID-19 and it is still unclear how lasting and deep the economic impacts will be. During the three and nine months ended December 31, 2020, the COVID-19 pandemic had mixed effects on the Company’s results of operations, and it may continue to have mixed or adverse effects. While there was high demand for and consumption of certain of our products that led to increased sales and operating income during the three and nine months ended December 31, 2020, at the same time the Company experienced disruptions and higher costs in our manufacturing, supply chain and logistics operations and outsourced services. The ongoing and full extent of the impact of the COVID-19 pandemic on the Company's business and operational and financial performance and condition, including the sustainability of its effect on trends positive to the Company, is uncertain and will depend on many factors outside the Company's control, including but not limited to the timing, extent, duration and effects of the virus and any of its mutations, the availability of vaccines and their global deployment, the development of effective treatments, the imposition of effective public safety and other protective measures and the public's response to such measures, the impact of COVID-19 on the global economy and demand for the Company's products and services. Should the COVID-19 pandemic or global economic slowdown not improve or worsen, or if the Company's attempt to mitigate its impact on its operations and costs is not successful, the Company's business, results of operations, financial condition and prospects may be adversely affected. Recent Accounting Pronouncements Adopted In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), which was further updated and clarified by the FASB through issuance of additional related ASUs, replaces the incurred-loss impairment methodology and requires immediate recognition of estimated credit losses expected to occur for most financial assets, including trade receivables. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted this standard effective April 1, 2020, using a modified retrospective approach. Upon adoption, the Company updated its credit loss models to utilize a forward-looking current expected credit losses (CECL) model in place of the incurred loss methodology for financial instruments measured at amortized cost, including accounts receivable. The cumulative effect adjustment from adoption was not material to the Company's condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements" (ASU 2018-13), which eliminates, adds and modifies certain disclosure requirements for fair value measurements, including eliminating the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and requiring the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. Some of these disclosure changes must be applied prospectively while others retrospectively depending on requirement. The Company adopted this standard effective April 1, 2020. The adoption of ASU 2018-13 did not have a material impact on the Company's condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefits Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" (ASU 2018-14), which requires that the Company remove various disclosures that no longer are considered cost-beneficial, namely amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year. Further, ASU 2018-14 requires disclosure or clarification of the reasons for significant gains or losses related to changes in the benefit obligation for the period. The Company adopted this standard effective April 1, 2020 using a retrospective approach and the updated disclosures will be included in the Company's Form 10-K for the fiscal year ending March 31, 2021. The adoption of ASU 2018-14 did not have an impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements To Be Adopted In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" (ASU 2019-12), which eliminates certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. This ASU also includes guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for annual and interim periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently assessing the impact of ASU 2019-12 on its consolidated financial statements and plans to adopt the standard effective April 1, 2021.

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Dec. 31, 2020
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table summarizes the computations of basic and diluted net income per share for the three and nine months ended December 31, 2020 and December 31, 2019 (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Net income $ 382,523 $ 117,525 $ 721,510 $ 235,803 Shares used in net income per share computation: Weighted average shares outstanding - basic 169,050 167,063 168,448 166,678 Effect of potentially dilutive equivalent shares 3,537 2,622 2,930 2,495 Weighted average shares outstanding - diluted 172,587 169,685 171,378 169,173 Net income per share: Basic $ 2.26 $ 0.70 $ 4.28 $ 1.41 Diluted $ 2.22 $ 0.69 $ 4.21 $ 1.39 Share equivalents attributable to outstanding stock options, restricted stock units ("RSUs") and employee share purchase plan ("ESPP") rights totaling 0.3 million and 1.8 million for the three months ended December 31, 2020 and 2019, respectively, and 0.4 million and 1.8 million for the nine months ended December 31, 2020 and 2019, respectively, were excluded from the calculation of diluted net income per share because the combined exercise price and average unamortized grant date fair value upon exercise of these options and ESPP rights or vesting of RSUs were greater than the average market price of the Company's shares during the periods presented herein, and therefore their inclusion would have been anti-dilutive. A small number of performance-based awards were not included in the calculation because all necessary conditions had not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period were the end of the performance contingency period.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
Employee Benefit Plans	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Share Purchase Plans and Stock Incentive Plans As of December 31, 2020, the Company offers the 2006 Employee Share Purchase Plan, as amended and restated (Non-U.S.) (2006 ESPP), the 1996 Employee Share Purchase Plan (U.S.), as amended and restated (1996 ESPP), the 2006 Stock Incentive Plan, as amended and restated (2006 Plan), and the 2012 Stock Inducement Equity Plan (2012 Plan). The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and nine months ended December 31, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Cost of goods sold $ 1,747 $ 1,210 $ 4,919 $ 3,552 Marketing and selling 8,390 6,216 27,559 20,016 Research and development 3,482 2,242 10,348 6,644 General and administrative 6,195 4,163 21,888 10,089 Total share-based compensation expense 19,814 13,831 64,714 40,301 Income tax benefit (3,471) (3,135) (15,540) (12,658) Total share-based compensation expense, net of income tax benefit $ 16,343 $ 10,696 $ 49,174 $ 27,643 The income tax benefit in the respective period primarily consists of tax benefit related to the share-based compensation expense for the period and direct tax benefit realized, including net excess tax benefits recognized from share-based awards vested or exercised during the period. As of December 31, 2020 and 2019, the balance of capitalized share-based compensation included in inventory was $1.0 million and $0.9 million, respectively. Defined Benefit Plans Certain of the Company’s subsidiaries sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees’ years of service and earnings, or in accordance with applicable employee benefit regulations. The Company’s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs recorded of $2.9 million and $2.3 million for the three months ended December 31, 2020 and 2019, respectively, and $8.3 million and $7.1 million for the nine months ended December 31, 2020 and 2019, respectively, were primarily related to service costs.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is incorporated in Switzerland but operates in various countries with differing tax laws and rates. Further, a portion of the Company’s income before taxes and the provision for (benefit from) income taxes are generated outside of Switzerland. The canton of Vaud enacted the Federal Act on Tax Reform and AHV Financing ("TRAF"), a major reform to better align the Swiss tax system with international tax standards, on March 10, 2020 that took effect as of January 1, 2020. The longstanding tax ruling from the canton of Vaud was applicable through December 31, 2019. The income tax provision for the three months ended December 31, 2020 was $72.3 million based on an effective income tax rate of 15.9% of pre-tax income, compared to an income tax provision of $14.5 million based on an effective income tax rate of 11.0% of pre-tax income for the three months ended December 31, 2019. The income tax provision for the nine months ended December 31, 2020 was $142.6 million based on an effective income tax rate of 16.5% of pre-tax income, compared to an income tax provision of $18.4 million based on an effective income tax rate of 7.2% of pre-tax income for the nine months ended December 31, 2019. The change in the effective income tax rate for the three and nine months ended December 31, 2020, compared to the same periods ended December 31, 2019 was primarily due to the mix of income and losses in the various tax jurisdictions in which the Company operates. The Swiss income tax provision in the three and nine months ended December 31, 2020 represents the income tax provision at the full statutory income tax rate of 13.63%. In the same periods ended December 31, 2019 when TRAF was yet to be enacted at the federal and cantonal levels, the transition income tax provision reflects the application of the longstanding tax ruling through December 31, 2019. Furthermore, there was a discrete tax benefit of $1.7 million from adjusting deferred tax assets and liabilities in Switzerland in the nine months ended December 31, 2019. There were discrete tax benefits of $7.2 million and $2.9 million from the recognition of excess tax benefits in the United States and reversal of uncertain tax positions from the expiration of statutes of limitations, respectively, in the nine-month period ended December 31, 2020, compared with $6.0 million and $2.7 million, respectively, in the nine-month period ended December 31, 2019. As of December 31, 2020 and March 31, 2020, the total amount of unrecognized tax benefits due to uncertain tax positions was $158.8 million and $140.8 million, respectively, all of which would affect the effective income tax rate if recognized. As of December 31, 2020 and March 31, 2020, the Company had $60.8 million and $40.8 million, respectively, in non-current income taxes payable including interest and penalties, related to the Company's income tax liability for uncertain tax positions. The Company recognizes interest and penalties related to unrecognized tax positions in the income tax provision. As of December 31, 2020 and March 31, 2020, the Company had $4.7 million and $4.5 million, respectively, of accrued interest and penalties related to uncertain tax positions in non-current income taxes payable. Although the Company has adequately provided for uncertain tax positions, the provisions related to these positions may change as revised estimates are made or the underlying matters are settled or otherwise resolved. During fiscal year 2021, the Company continues to review its tax positions and provide for or reverse unrecognized tax benefits as they arise. During the next twelve months, it is reasonably possible that the amount of unrecognized tax benefits could increase or decrease significantly due to changes in tax law in various jurisdictions, new tax audits and changes in the U.S. dollar as compared to other currencies. Excluding these factors, uncertain tax positions may decrease by as much as $4.4 million from the lapse of the statutes of limitations in various jurisdictions during the next twelve months.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
Balance Sheet Components	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components The following table presents the components of certain balance sheet asset amounts as of December 31 and March 31, 2020 (in thousands): December 31, 2020 March 31, 2020 Accounts receivable, net: Accounts receivable $ 1,196,050 $ 597,939 Allowance for doubtful accounts (1,328) (1,894) Allowance for sales returns (14,665) (6,599) Allowance for cooperative marketing arrangements (53,387) (38,794) Allowance for customer incentive programs (91,863) (55,741) Allowance for pricing programs (139,870) (100,168) $ 894,937 $ 394,743 Inventories: Raw materials $ 94,748 $ 56,052 Finished goods 382,054 173,197 $ 476,802 $ 229,249 Other current assets: Value-added tax receivables $ 60,746 $ 33,616 Prepaid expenses and other assets 56,995 41,304 $ 117,741 $ 74,920 Property, plant and equipment, net: Property, plant and equipment at cost $ 392,478 $ 346,506 Accumulated depreciation and amortization (295,795) (270,387) $ 96,683 $ 76,119 Other assets: Deferred tax assets $ 219,145 $ 240,528 Right-of-use assets 31,532 25,557 Trading investments for deferred compensation plan 24,056 20,085 Investments in privately held companies 44,634 45,949 Other assets 14,366 12,900 $ 333,733 $ 345,019 The following table presents the components of certain balance sheet liability amounts as of December 31 and March 31, 2020 (in thousands): December 31, 2020 March 31, 2020 Accrued and other current liabilities: Accrued personnel expenses $ 138,735 $ 104,423 Accrued sales return liability 33,540 30,267 Accrued customer marketing, pricing and incentive programs 163,335 130,220 Operating lease liability 12,620 10,945 Accrued freight and duty 43,477 13,284 Warranty accrual 32,128 25,905 Income taxes payable 81,547 8,823 Contingent consideration 537 23,284 Other current liabilities 198,654 107,873 $ 704,573 $ 455,024 Other non-current liabilities: Warranty accrual $ 15,464 $ 14,134 Obligation for deferred compensation plan 24,056 20,085 Employee benefit plan obligations 66,420 61,303 Operating lease liability 22,537 19,536 Deferred tax liability 1,931 1,931 Other non-current liabilities 3,613 2,285 $ 134,021 $ 119,274

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Dec. 31, 2020
Financial Instruments, Owned, at Fair Value [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements The Company considers fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company utilizes the following three-level fair value hierarchy to establish the priorities of the inputs used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted market prices included in Level 1, such as: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): December 31, 2020 March 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 465,838 $ — $ — $ 564,952 $ — $ — Trading investments for deferred compensation plan included in other assets: Cash $ 75 $ — $ — $ 846 $ — $ — Common stock 1,544 — — — — — Money market funds 7,147 — — 7,147 — — Mutual funds 15,290 — — 12,092 — — Total of trading investments for deferred compensation plan $ 24,056 $ — $ — $ 20,085 $ — $ — Currency exchange derivative assets $ — $ — $ — $ — $ 129 $ — Liabilities: Contingent consideration for business acquisition included in accrued and other current liabilities $ — $ — $ — $ — $ — $ 23,284 Currency exchange derivative liabilities $ — $ 4,523 $ — $ — $ 719 $ — The following table summarizes the change in the fair value of the Company's contingent consideration balance during the nine months ended December 31, 2020 (in thousands): Nine Months Ended Beginning of the period $ 23,284 Change in fair value of contingent consideration 5,716 Settlement of contingent consideration (28,463) End of the period (1) $ 537 (1) As of June 30, 2020, the earn-out period was completed in connection with our acquisition of Streamlabs (defined below). The earn-out payment of $29.0 million is based on the actual net sales of Streamlabs services during the earn-out period and is no longer subject to fair value measurement and was accordingly transferred out of Level 3. During the third quarter of 2021, the fair value of $28.5 million of the contingent consideration was transferred from other current liabilities to equity upon settlement of the contingent consideration through the issuance of shares out of treasury stock. The remaining amount of $0.5 million is held back in escrow for claims made against the escrow and for the payment of taxes. Investment Securities The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $24.1 million and $20.1 million, as of December 31, 2020 and March 31, 2020, respectively, based on quoted market prices. Quoted market prices are observable inputs that are classified as Level 1 within the fair value hierarchy. Unrealized gains (losses) related to trading securities for the three and nine months ended December 31, 2020 and 2019 were not material and are included in other income, net in the Company's condensed consolidated statements of operations. Contingent Consideration for Business Acquisition On October 31, 2019 (the "Streamlabs Acquisition Date"), the Company acquired all of the equity interests of General Workings, Inc. ("Streamlabs"). In connection with the acquisition of Streamlabs, the Company agreed to pay a total earn out payment of $29.0 million, payable in stock, only upon the achievement of certain net revenues for the period beginning on January 1, 2020 and ending on June 30, 2020. The fair value of the earn-out as of the Streamlabs Acquisition Date was $0.04 million, and increased to $23.3 million as of March 31, 2020, which was determined by using a Black-Scholes-Merton valuation model to calculate the probability of the earn-out threshold being met and times the value of the earn-out payment, and discounted at the risk-free rate. The fair value was increased by $5.7 million to $29.0 million as of June 30, 2020, based on actual sales. The fair value of the contingent consideration no longer needs to be remeasured after June 30, 2020, as the earn-out period has been completed. During the third quarter of fiscal 2021, Logitech issued 390,397 shares out of treasury shares to former security holders of Streamlabs, in satisfaction of payment of the contingent consideration that was earned during the earn-out period of January 1, 2020 through June 30, 2020. The issuances of such shares were deemed to be exempt from registration under the Securities Act of 1933 (the "Securities Act"), in reliance on Regulation D of the Securities Act as transactions by an issuer not involving a public offering. Equity Method Investments The Company has certain non-marketable investments included in other assets that are accounted for under the equity method of accounting, with a carrying value of $39.9 million and $42.1 million as of December 31, 2020 and March 31, 2020, respectively. Unrealized gains (losses) related to equity investments for the three and nine months ended December 31, 2020 and 2019 were not material and are included in other income, net in the Company's condensed consolidated statements of operations. There was no impairment of these assets during the three and nine months ended December 31, 2020 or 2019. Other Assets Measured at Fair Value on a Nonrecurring Basis Financial Assets. The Company has certain investments without readily determinable fair values due to the absence of quoted market prices, the inherent lack of liquidity, and the fact that inputs used to measure fair value are unobservable and require management's judgment. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. The carrying value is also adjusted for observable price changes with a same or similar security from the same issuer. The amount of these investments included in other assets was immaterial as of December 31, 2020 and March 31, 2020. There was no impairment of these assets during the three and nine months ended December 31, 2020 or 2019. Non-Financial Assets. Goodwill, intangible assets, and property, plant and equipment, are not required to be measured at fair value on a recurring basis. However, if certain triggering events occur (or tested at least annually for goodwill) such that a non-financial instrument is required to be evaluated for impairment and an impairment is recorded to reduce the non-financial instrument's carrying value to the fair value as a result of such triggering events, the non-financial assets and liabilities are measured at fair value for the period such triggering events occur. There was no impairment of these assets during the three and nine months ended December 31, 2020 or 2019.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
Derivative Financial Instruments	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Under certain agreements with the respective counterparties to the Company’s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same type with a single net amount payable by one party to the other. However, the Company presents its derivative assets and derivative liabilities on a gross basis on the condensed consolidated balance sheets as of December 31, 2020 and March 31, 2020. The fair value of the Company’s derivative instruments was not material as of December 31, 2020 or March 31, 2020. The amount of gain (loss) recognized on derivatives not designated as hedging instruments was not material in all periods presented herein. The following table presents the amounts of gains (losses) on the Company’s derivative instruments designated as hedging instruments and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three and nine months ended December 31, 2020 and 2019 (in thousands): Three Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2020 2019 2020 2019 Cash flow hedges $ (6,326) $ (1,381) $ 3,446 $ (739) Nine Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2020 2019 2020 2019 Cash flow hedges $ (9,752) $ 56 $ 5,085 $ (1,097) Cash Flow Hedges The Company enters into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases. These hedging contracts mature within four months. Gains and losses in the fair value of the effective portion of the hedges are deferred as a component of accumulated other comprehensive loss until the hedged inventory purchases are sold, at which time the gains or losses are reclassified to cost of goods sold. Cash flows from such hedges are classified as operating activities in the condensed consolidated statements of cash flows. Hedging relationships are discontinued when hedging contract is no longer eligible for hedge accounting, or is sold, terminated or exercised, or when Company removes hedge designation for the contract. Gains and losses in the fair value of the effective portion of the discontinued hedges continue to be reported in accumulated other comprehensive loss until the hedged inventory purchases are sold, unless it is probable that the forecasted inventory purchases will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. In all periods presented herein, there have been no forecasted inventory purchases that were probable to not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. The notional amounts of foreign currency exchange forward contracts outstanding related to forecasted inventory purchases were $166.1 million as of December 31, 2020 and $48.0 million as of March 31, 2020. The Company had $4.9 million of net losses related to its cash flow hedges included in accumulated other comprehensive loss as of December 31, 2020, which will be reclassified into earnings within the next 12 months. Other Derivatives The Company also enters into foreign currency exchange forward and swap contracts to reduce the short-term effects of currency exchange rate fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of its subsidiaries. These contracts generally mature within one month. The primary risk managed by using forward and swap contracts is the currency exchange rate risk. The gains or losses on these contracts are recognized in other income, net in the condensed consolidated statements of operations based on the changes in fair value. The notional amounts of these contracts outstanding as of December 31, 2020 and March 31, 2020 were $157.2 million and $64.7 million, respectively. Open forward and swap contracts outstanding as of December 31, 2020 and March 31, 2020 consisted of contracts in Mexican Pesos, Japanese Yen, Canadian Dollars, Taiwan New Dollars and Australian Dollars to be settled at future dates at pre-determined exchange rates.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
Goodwill and Other Intangible Assets	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company conducts its impairment analysis of goodwill annually at December 31 and as necessary, if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. The Company conducted its annual impairment analysis of goodwill as of December 31, 2020 by performing a qualitative assessment and concluded that it was more likely than not that the fair value of its reporting unit exceeds its carrying amount. In assessing the qualitative factors, the Company considered the impact of change in industry and competitive environment, growth in the Company's market capitalization and budgeted-to-actual revenue performance for the last twelve months. The following table summarizes the activities in the Company’s goodwill balance during the nine months ended December 31, 2020 (in thousands): As of March 31, 2020 $ 400,917 Currency translation 76 As of December 31, 2020 $ 400,993 The Company's acquired intangible assets subject to amortization were as follows (in thousands): December 31, 2020 March 31, 2020 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademark and trade names $ 45,570 $ (23,615) $ 21,955 $ 45,570 $ (19,061) $ 26,509 Developed technology 118,807 (86,922) 31,885 118,807 (77,126) 41,681 Customer contracts/relationships 90,610 (41,136) 49,474 90,610 (31,859) 58,751 Total $ 254,987 $ (151,673) $ 103,314 $ 254,987 $ (128,046) $ 126,941

Financing Arrangements

Financing Arrangements	9 Months Ended
Financing Arrangements	Dec. 31, 2020
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements The Company had several uncommitted, unsecured bank lines of credit aggregating $82.6 million as of December 31, 2020. There are no financial covenants under these lines of credit with which the Company must comply. As of December 31, 2020, the Company had outstanding bank guarantees of $37.8 million under these lines of credit. There was no borrowing outstanding under these lines of credit as of December 31, 2020 or March 31, 2020.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties Changes in the Company’s warranty liability for the three and nine months ended December 31, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Beginning of the period $ 41,782 $ 37,222 $ 40,039 $ 34,229 Provision 13,692 9,608 28,575 26,652 Settlements (8,371) (6,840) (22,073) (20,544) Currency translation 489 187 1,051 (160) End of the period $ 47,592 $ 40,177 $ 47,592 $ 40,177 Indemnifications The Company indemnifies certain of its suppliers and customers for losses arising from matters such as intellectual property disputes and product safety defects, subject to certain restrictions. The scope of these indemnities varies, but in some instances, includes indemnification for damages and expenses, including reasonable attorneys’ fees. As of December 31, 2020, no amounts have been accrued for these indemnification provisions. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under its indemnification arrangements. The Company also indemnifies its current and former directors and certain of its current and former officers. Certain costs incurred for providing such indemnification may be recoverable under various insurance policies. The Company is unable to reasonably estimate the maximum amount that could be payable under these arrangements because these exposures are not limited, the obligations are conditional in nature and the facts and circumstances involved in any situation that might arise are variable. Legal Proceedings From time to time the Company is involved in claims and legal proceedings that arise in the ordinary course of its business. The Company is currently subject to several such claims and a small number of legal proceedings. The Company believes that these matters lack merit and intends to vigorously defend against them. Based on currently available information, the Company does not believe that resolution of pending matters will have a material adverse effect on its financial condition, cash flows or results of operations. However, litigation is subject to inherent uncertainties, and there can be no assurances that the Company’s defenses will be successful or that any such lawsuit or claim would not have a material adverse impact on the Company’s business, financial condition, cash flows or results of operations in a particular period. Any claims or proceedings against the Company, whether meritorious or not, can have an adverse impact because of defense costs, diversion of management and operational resources, negative publicity and other factors. Any failure to obtain a necessary license or other rights, or litigation arising out of intellectual property claims, could adversely affect the Company’s business.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
Shareholders' Equity	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchase Program In March 2017, the Company's Board of Directors approved the 2017 share buyback program, which authorized the Company to use up to $250.0 million to purchase up to 17.3 million shares of Logitech shares. This share buyback program expired in April 2020. The Company did not repurchase any of its registered shares during April 2020. In May 2020, the Company's Board of Directors approved the 2020 share buyback program, which authorized the Company to use up to $250.0 million to purchase up to 17.3 million of Logitech shares. The Company's share buyback program is expected to remain in effect for a period of three years. Shares may be repurchased from time to time on the open market, through block trades or otherwise. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors. As of December 31, 2020, $177.6 million is still available for repurchase under the 2020 buyback program. Dividends During the three and nine months ended December 31, 2020, the Company declared and paid cash dividends of CHF 0.79 (USD equivalent of $0.87) per share, totaling $146.7 million on the Company's outstanding shares. During the three and nine months ended December 31, 2019, the Company declared and paid cash dividends of CHF 0.73 (USD equivalent of $0.74) per share, totaling $124.2 million on the Company's outstanding shares. Any future dividends will be subject to approval of the Company's shareholders. Additional Authorized and Conditional Shares The Company has reserved conditional capital of 25,000,000 shares for potential issuance on the exercise of rights granted under the Company's employee equity incentive plans and additional conditional capital for financing purposes, representing the issuance of up to 25,000,000 shares to cover any conversion rights under a future convertible bond issuance. At the 2018 Annual General Meeting, the shareholders of the Company authorized the Board of Directors to issue up to an additional 34,621,324 shares of the Company until September 5, 2020, which authority expired on that date. At the 2020 Annual General Meeting, the shareholders of the Company authorized the Board of Directors to issue up to an additional 17,310,662 shares of the Company until September 9, 2022. Accumulated Other Comprehensive Income (Loss) The accumulated other comprehensive income (loss) was as follows (in thousands): Accumulated Other Comprehensive Income (Loss) Cumulative Defined Deferred Hedging Losses Total March 31, 2020 $ (100,418) $ (20,016) $ (226) $ (120,660) Other comprehensive income (loss) 22,206 204 (4,667) 17,743 December 31, 2020 $ (78,212) $ (19,812) $ (4,893) $ (102,917)

Segment Information

Segment Information	9 Months Ended
Segment Information	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has determined that it operates in a single operating segment that encompasses the design, manufacturing and marketing of peripherals for PCs, tablets and other digital platforms. Operating performance measures are provided directly to the Company's CEO, who is considered to be the Company’s Chief Operating Decision Maker. The CEO periodically reviews information such as sales and adjusted operating income (loss) to make business decisions. These operating performance measures do not include restructuring charges (credits), net, share-based compensation expense, amortization of intangible assets, charges from the purchase accounting effect on inventory, acquisition-related costs or change in fair value of contingent consideration from business acquisition. Sales by product categories and sales channels, excluding intercompany transactions, for the three and nine months ended December 31, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Pointing Devices $ 213,638 $ 154,540 $ 503,228 $ 409,293 Keyboards & Combos 218,269 156,333 565,246 424,061 PC Webcams 131,700 32,165 295,020 89,041 Tablet & Other Accessories 138,052 31,256 267,186 103,442 Gaming (1) 436,426 245,736 916,040 541,265 Video Collaboration 292,500 91,964 659,278 254,941 Mobile Speakers 72,566 92,969 145,156 200,617 Audio & Wearables 152,952 81,934 338,592 208,576 Smart Home 10,593 15,790 25,976 35,088 Other (2) 606 — 632 279 Total sales $ 1,667,302 $ 902,687 $ 3,716,354 $ 2,266,603 (1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other includes products that the Company currently intends to phase out, or has already phased out, because they are no longer strategic to the Company's business. Sales by geographic region (based on the customers’ locations) for the three and nine months ended December 31, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Americas $ 704,718 $ 380,493 $ 1,603,221 $ 970,775 EMEA 547,044 308,907 1,147,393 719,994 Asia Pacific 415,540 213,287 965,740 575,834 Total sales $ 1,667,302 $ 902,687 $ 3,716,354 $ 2,266,603 Sales are attributed to countries on the basis of the customers’ locations. The United States and Germany each represented 10% or more of the total consolidated sales for each of the periods presented herein. No other countries represented 10% or more of the Company’s total consolidated sales for the periods presented herein. Switzerland, the Company’s home domicile, represented 3% of the Company's total consolidated sales for the three and nine months ended December 31, 2020, respectively, and represented 4% of the Company's total consolidated sales for the three and nine months ended December 31, 2019, respectively. Two customers of the Company each represented 10% or more of the total consolidated sales for each of the periods presented herein. Property, plant and equipment, net by geographic region were as follows (in thousands): December 31, 2020 March 31, 2020 Americas $ 21,859 $ 26,636 EMEA 6,998 5,052 Asia Pacific 67,826 44,431 Total property, plant and equipment, net $ 96,683 $ 76,119 Property, plant and equipment, net in the United States and China were $21.6 million and $59.6 million, respectively, as of December 31, 2020, and $26.5 million and $36.6 million, respectively, as of March 31, 2020. No other countries represented 10% or more of the Company’s total consolidated property, plant and equipment, net as of December 31, 2020 or March 31, 2020. Property, plant and equipment, net in Switzerland, the Company’s home domicile, were $4.6 million and $2.3 million as of December 31, 2020 and March 31, 2020, respectively.

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	9 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and therefore do not include all the information required by GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2020, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) on May 27, 2020. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three and nine months ended December 31, 2020 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2021, or any future periods.
Recent Accounting Pronouncements Issued and Adopted	Changes in Significant Accounting Policies Other than the recent accounting pronouncements adopted and discussed below under Recent Accounting Pronouncements Adopted , there have been no material changes in the Company’s significant accounting policies during the nine months ended December 31, 2020 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2020. Recent Accounting Pronouncements Adopted In June 2016, the FASB issued ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), which was further updated and clarified by the FASB through issuance of additional related ASUs, replaces the incurred-loss impairment methodology and requires immediate recognition of estimated credit losses expected to occur for most financial assets, including trade receivables. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted this standard effective April 1, 2020, using a modified retrospective approach. Upon adoption, the Company updated its credit loss models to utilize a forward-looking current expected credit losses (CECL) model in place of the incurred loss methodology for financial instruments measured at amortized cost, including accounts receivable. The cumulative effect adjustment from adoption was not material to the Company's condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurements" (ASU 2018-13), which eliminates, adds and modifies certain disclosure requirements for fair value measurements, including eliminating the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, and requiring the range and weighted average used to develop significant unobservable inputs for Level 3 fair value measurements. Some of these disclosure changes must be applied prospectively while others retrospectively depending on requirement. The Company adopted this standard effective April 1, 2020. The adoption of ASU 2018-13 did not have a material impact on the Company's condensed consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, "Compensation - Retirement Benefits - Defined Benefits Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans" (ASU 2018-14), which requires that the Company remove various disclosures that no longer are considered cost-beneficial, namely amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year. Further, ASU 2018-14 requires disclosure or clarification of the reasons for significant gains or losses related to changes in the benefit obligation for the period. The Company adopted this standard effective April 1, 2020 using a retrospective approach and the updated disclosures will be included in the Company's Form 10-K for the fiscal year ending March 31, 2021. The adoption of ASU 2018-14 did not have an impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements To Be Adopted In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" (ASU 2019-12), which eliminates certain exceptions for recognizing deferred taxes for investments, performing intraperiod allocation and calculating income taxes in interim periods. This ASU also includes guidance to reduce complexity in certain areas, including recognizing deferred taxes for tax goodwill and allocating taxes to members of a consolidated group. ASU 2019-12 is effective for annual and interim periods in fiscal years beginning after December 15, 2020. Early adoption is permitted. The Company is currently assessing the impact of ASU 2019-12 on its consolidated financial statements and plans to adopt the standard effective April 1, 2021.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve fair value of goodwill and intangible assets acquired from business acquisitions, valuation of right-of-use assets, valuation of investment in privately held companies classified under Level 3 of the fair value hierarchy, pensions obligations, warranty liabilities, accruals for customer incentives, cooperative marketing, and pricing programs (Customer Programs) and related breakage when appropriate, accrued sales return liability, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from these estimates.
Risks and Uncertainties	Risks and UncertaintiesWe are subject to risks and uncertainties as a result of the novel coronavirus (COVID-19). Capital markets and economies worldwide have been negatively impacted by COVID-19 and it is still unclear how lasting and deep the economic impacts will be. During the three and nine months ended December 31, 2020, the COVID-19 pandemic had mixed effects on the Company’s results of operations, and it may continue to have mixed or adverse effects. While there was high demand for and consumption of certain of our products that led to increased sales and operating income during the three and nine months ended December 31, 2020, at the same time the Company experienced disruptions and higher costs in our manufacturing, supply chain and logistics operations and outsourced services. The ongoing and full extent of the impact of the COVID-19 pandemic on the Company's business and operational and financial performance and condition, including the sustainability of its effect on trends positive to the Company, is uncertain and will depend on many factors outside the Company's control, including but not limited to the timing, extent, duration and effects of the virus and any of its mutations, the availability of vaccines and their global deployment, the development of effective treatments, the imposition of effective public safety and other protective measures and the public's response to such measures, the impact of COVID-19 on the global economy and demand for the Company's products and services. Should the COVID-19 pandemic or global economic slowdown not improve or worsen, or if the Company's attempt to mitigate its impact on its operations and costs is not successful, the Company's business, results of operations, financial condition and prospects may be adversely affected.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Dec. 31, 2020
Earnings Per Share [Abstract]
Schedule of Computations of Basic and Diluted Net Income Per Share	The following table summarizes the computations of basic and diluted net income per share for the three and nine months ended December 31, 2020 and December 31, 2019 (in thousands, except per share amounts): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Net income $ 382,523 $ 117,525 $ 721,510 $ 235,803 Shares used in net income per share computation: Weighted average shares outstanding - basic 169,050 167,063 168,448 166,678 Effect of potentially dilutive equivalent shares 3,537 2,622 2,930 2,495 Weighted average shares outstanding - diluted 172,587 169,685 171,378 169,173 Net income per share: Basic $ 2.26 $ 0.70 $ 4.28 $ 1.41 Diluted $ 2.22 $ 0.69 $ 4.21 $ 1.39

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	9 Months Ended
Employee Benefit Plans (Tables)	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of Share-based Compensation Expenses and Related Tax Benefits Recognized	The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three and nine months ended December 31, 2020 and 2019 (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Cost of goods sold $ 1,747 $ 1,210 $ 4,919 $ 3,552 Marketing and selling 8,390 6,216 27,559 20,016 Research and development 3,482 2,242 10,348 6,644 General and administrative 6,195 4,163 21,888 10,089 Total share-based compensation expense 19,814 13,831 64,714 40,301 Income tax benefit (3,471) (3,135) (15,540) (12,658) Total share-based compensation expense, net of income tax benefit $ 16,343 $ 10,696 $ 49,174 $ 27,643

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
Balance Sheet Components (Tables)	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Schedule of Components of Certain Balance Sheet Asset Amounts	The following table presents the components of certain balance sheet asset amounts as of December 31 and March 31, 2020 (in thousands): December 31, 2020 March 31, 2020 Accounts receivable, net: Accounts receivable $ 1,196,050 $ 597,939 Allowance for doubtful accounts (1,328) (1,894) Allowance for sales returns (14,665) (6,599) Allowance for cooperative marketing arrangements (53,387) (38,794) Allowance for customer incentive programs (91,863) (55,741) Allowance for pricing programs (139,870) (100,168) $ 894,937 $ 394,743 Inventories: Raw materials $ 94,748 $ 56,052 Finished goods 382,054 173,197 $ 476,802 $ 229,249 Other current assets: Value-added tax receivables $ 60,746 $ 33,616 Prepaid expenses and other assets 56,995 41,304 $ 117,741 $ 74,920 Property, plant and equipment, net: Property, plant and equipment at cost $ 392,478 $ 346,506 Accumulated depreciation and amortization (295,795) (270,387) $ 96,683 $ 76,119 Other assets: Deferred tax assets $ 219,145 $ 240,528 Right-of-use assets 31,532 25,557 Trading investments for deferred compensation plan 24,056 20,085 Investments in privately held companies 44,634 45,949 Other assets 14,366 12,900 $ 333,733 $ 345,019
Schedule of Components of Certain Balance Sheet Liability Amounts	The following table presents the components of certain balance sheet liability amounts as of December 31 and March 31, 2020 (in thousands): December 31, 2020 March 31, 2020 Accrued and other current liabilities: Accrued personnel expenses $ 138,735 $ 104,423 Accrued sales return liability 33,540 30,267 Accrued customer marketing, pricing and incentive programs 163,335 130,220 Operating lease liability 12,620 10,945 Accrued freight and duty 43,477 13,284 Warranty accrual 32,128 25,905 Income taxes payable 81,547 8,823 Contingent consideration 537 23,284 Other current liabilities 198,654 107,873 $ 704,573 $ 455,024 Other non-current liabilities: Warranty accrual $ 15,464 $ 14,134 Obligation for deferred compensation plan 24,056 20,085 Employee benefit plan obligations 66,420 61,303 Operating lease liability 22,537 19,536 Deferred tax liability 1,931 1,931 Other non-current liabilities 3,613 2,285 $ 134,021 $ 119,274

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2020
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of Financial Assets and Liabilities, Classified by Level	The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): December 31, 2020 March 31, 2020 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 465,838 $ — $ — $ 564,952 $ — $ — Trading investments for deferred compensation plan included in other assets: Cash $ 75 $ — $ — $ 846 $ — $ — Common stock 1,544 — — — — — Money market funds 7,147 — — 7,147 — — Mutual funds 15,290 — — 12,092 — — Total of trading investments for deferred compensation plan $ 24,056 $ — $ — $ 20,085 $ — $ — Currency exchange derivative assets $ — $ — $ — $ — $ 129 $ — Liabilities: Contingent consideration for business acquisition included in accrued and other current liabilities $ — $ — $ — $ — $ — $ 23,284 Currency exchange derivative liabilities $ — $ 4,523 $ — $ — $ 719 $ —
Change in Fair Value of Contingent Consideration	The following table summarizes the change in the fair value of the Company's contingent consideration balance during the nine months ended December 31, 2020 (in thousands): Nine Months Ended Beginning of the period $ 23,284 Change in fair value of contingent consideration 5,716 Settlement of contingent consideration (28,463) End of the period (1) $ 537 (1) As of June 30, 2020, the earn-out period was completed in connection with our acquisition of Streamlabs (defined below). The earn-out payment of $29.0 million is based on the actual net sales of Streamlabs services during the earn-out period and is no longer subject to fair value measurement and was accordingly transferred out of Level 3. During the third quarter of 2021, the fair value of $28.5 million of the contingent consideration was transferred from other current liabilities to equity upon settlement of the contingent consideration through the issuance of shares out of treasury stock. The remaining amount of $0.5 million is held back in escrow for claims made against the escrow and for the payment of taxes.

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
Derivative Financial Instruments (Tables)	Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Gains and Losses on Derivative Instruments	The following table presents the amounts of gains (losses) on the Company’s derivative instruments designated as hedging instruments and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income for the three and nine months ended December 31, 2020 and 2019 (in thousands): Three Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2020 2019 2020 2019 Cash flow hedges $ (6,326) $ (1,381) $ 3,446 $ (739) Nine Months Ended Amount of Gain (Loss) Amount of Loss (Gain) 2020 2019 2020 2019 Cash flow hedges $ (9,752) $ 56 $ 5,085 $ (1,097)

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Activity In Goodwill Balance	The following table summarizes the activities in the Company’s goodwill balance during the nine months ended December 31, 2020 (in thousands): As of March 31, 2020 $ 400,917 Currency translation 76 As of December 31, 2020 $ 400,993
Schedule of Intangible Assets Subject to Amortization	The Company's acquired intangible assets subject to amortization were as follows (in thousands): December 31, 2020 March 31, 2020 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademark and trade names $ 45,570 $ (23,615) $ 21,955 $ 45,570 $ (19,061) $ 26,509 Developed technology 118,807 (86,922) 31,885 118,807 (77,126) 41,681 Customer contracts/relationships 90,610 (41,136) 49,474 90,610 (31,859) 58,751 Total $ 254,987 $ (151,673) $ 103,314 $ 254,987 $ (128,046) $ 126,941

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Warranty Liability	Changes in the Company’s warranty liability for the three and nine months ended December 31, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Beginning of the period $ 41,782 $ 37,222 $ 40,039 $ 34,229 Provision 13,692 9,608 28,575 26,652 Settlements (8,371) (6,840) (22,073) (20,544) Currency translation 489 187 1,051 (160) End of the period $ 47,592 $ 40,177 $ 47,592 $ 40,177

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
Shareholders' Equity (Tables)	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The accumulated other comprehensive income (loss) was as follows (in thousands): Accumulated Other Comprehensive Income (Loss) Cumulative Defined Deferred Hedging Losses Total March 31, 2020 $ (100,418) $ (20,016) $ (226) $ (120,660) Other comprehensive income (loss) 22,206 204 (4,667) 17,743 December 31, 2020 $ (78,212) $ (19,812) $ (4,893) $ (102,917)

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Dec. 31, 2020
Segment Reporting [Abstract]
Schedule of Net Sales by Product Categories, Excluding Intercompany Transactions	Sales by product categories and sales channels, excluding intercompany transactions, for the three and nine months ended December 31, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Pointing Devices $ 213,638 $ 154,540 $ 503,228 $ 409,293 Keyboards & Combos 218,269 156,333 565,246 424,061 PC Webcams 131,700 32,165 295,020 89,041 Tablet & Other Accessories 138,052 31,256 267,186 103,442 Gaming (1) 436,426 245,736 916,040 541,265 Video Collaboration 292,500 91,964 659,278 254,941 Mobile Speakers 72,566 92,969 145,156 200,617 Audio & Wearables 152,952 81,934 338,592 208,576 Smart Home 10,593 15,790 25,976 35,088 Other (2) 606 — 632 279 Total sales $ 1,667,302 $ 902,687 $ 3,716,354 $ 2,266,603 (1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other includes products that the Company currently intends to phase out, or has already phased out, because they are no longer strategic to the Company's business.
Schedule of Net Sales by Geographic Region	Sales by geographic region (based on the customers’ locations) for the three and nine months ended December 31, 2020 and 2019 were as follows (in thousands): Three Months Ended Nine Months Ended 2020 2019 2020 2019 Americas $ 704,718 $ 380,493 $ 1,603,221 $ 970,775 EMEA 547,044 308,907 1,147,393 719,994 Asia Pacific 415,540 213,287 965,740 575,834 Total sales $ 1,667,302 $ 902,687 $ 3,716,354 $ 2,266,603
Schedule of Long-Lived Assets by Geographic Region	Property, plant and equipment, net by geographic region were as follows (in thousands): December 31, 2020 March 31, 2020 Americas $ 21,859 $ 26,636 EMEA 6,998 5,052 Asia Pacific 67,826 44,431 Total property, plant and equipment, net $ 96,683 $ 76,119

Net Income Per Share - Computat

Net Income Per Share - Computations of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Net income	$ 382,523	$ 117,525	$ 721,510	$ 235,803
Shares used in net income per share computation:
Weighted average shares outstanding - basic (in shares)	169,050	167,063	168,448	166,678
Effect of potentially dilutive equivalent shares (in shares)	3,537	2,622	2,930	2,495
Weighted average shares outstanding - diluted (in shares)	172,587	169,685	171,378	169,173
Net income per share:
Basic (in dollars per share)	$ 2.26	$ 0.70	$ 4.28	$ 1.41
Diluted (in dollars per share)	$ 2.22	$ 0.69	$ 4.21	$ 1.39
Anti-dilutive equivalents shares excluded (in shares)	300	1,800	400	1,800

Employee Benefit Plans - Share-

Employee Benefit Plans - Share-based Compensation Expenses and Related Tax Benefits (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 19,814	$ 13,831	$ 64,714	$ 40,301
Income tax benefit	(3,471)	(3,135)	(15,540)	(12,658)
Total share-based compensation expense, net of income tax benefit	16,343	10,696	49,174	27,643
Cost of goods sold
Share-based compensation expense and related tax benefit
Total share-based compensation expense	1,747	1,210	4,919	3,552
Marketing and selling
Share-based compensation expense and related tax benefit
Total share-based compensation expense	8,390	6,216	27,559	20,016
Research and development
Share-based compensation expense and related tax benefit
Total share-based compensation expense	3,482	2,242	10,348	6,644
General and administrative
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 6,195	$ 4,163	$ 21,888	$ 10,089

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation
Share-based compensation expenses capitalized as inventory			$ 1	$ 0.9
Defined benefit plans
Net periodic benefit cost	$ 2.9	$ 2.3	$ 8.3	$ 7.1

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Operating Loss Carryforwards [Line Items]
Provision for income taxes	$ 72,334	$ 14,467	$ 142,638	$ 18,405
Effective income tax rates	15.90%	11.00%	16.50%	7.20%
Full statutory income tax rate	13.63%		13.63%
Discrete tax benefits from recognition of excess tax benefits			$ 7,200	$ 6,000
Reversal of uncertain tax positions			2,900	2,700
Unrecognized tax benefits	$ 158,800		158,800		$ 140,800
Accrued interest and penalties related to uncertain tax positions	4,700		4,700		4,500
Expected decrease in uncertain tax positions	4,400		4,400
Non-current income tax payable
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 60,800		$ 60,800		$ 40,800
SWITZERLAND
Operating Loss Carryforwards [Line Items]
Tax benefit from remeasurement of deferred income tax and benefit				$ 1,700

Balance Sheet Components - Comp

Balance Sheet Components - Components of Certain Balance Sheet Asset Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Accounts receivable, net:
Accounts receivable	$ 1,196,050	$ 597,939
Accounts receivable, net	894,937	394,743
Inventories:
Raw materials	94,748	56,052
Finished goods	382,054	173,197
Inventory, net	476,802	229,249
Other current assets:
Value-added tax receivables	60,746	33,616
Prepaid expenses and other assets	56,995	41,304
Other current assets, total	117,741	74,920
Property, plant and equipment, net:
Property, plant and equipment at cost	392,478	346,506
Accumulated depreciation and amortization	(295,795)	(270,387)
Property, plant and equipment, net	96,683	76,119
Other assets:
Deferred tax assets	219,145	240,528
Right-of-use assets	31,532	25,557
Trading investments for deferred compensation plan	24,056	20,085
Investments in privately held companies	44,634	45,949
Other assets	14,366	12,900
Other assets, total	$ 333,733	345,019
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Allowance for doubtful accounts
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (1,328)	(1,894)
Allowance for sales returns
Accounts receivable, net:
Valuation allowance for accounts receivable	(14,665)	(6,599)
Allowance for cooperative marketing arrangements
Accounts receivable, net:
Valuation allowance for accounts receivable	(53,387)	(38,794)
Allowance for customer incentive programs
Accounts receivable, net:
Valuation allowance for accounts receivable	(91,863)	(55,741)
Allowance for pricing programs
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (139,870)	$ (100,168)

Balance Sheet Components - Co_2

Balance Sheet Components - Components of Certain Balance Sheet Liability Amounts (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Accrued and other current liabilities:
Accrued personnel expenses	$ 138,735	$ 104,423
Accrued sales return liability	33,540	30,267
Accrued customer marketing, pricing and incentive programs	163,335	130,220
Operating lease liability	12,620	10,945
Accrued freight and duty	43,477	13,284
Warranty accrual	32,128	25,905
Income taxes payable	81,547	8,823
Contingent consideration	537	23,284
Other current liabilities	198,654	107,873
Accrued and other current liabilities	$ 704,573	455,024
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesCurrent
Other non-current liabilities:
Warranty accrual	$ 15,464	14,134
Obligation for deferred compensation plan	24,056	20,085
Employee benefit plan obligations	66,420	61,303
Operating lease liability	22,537	19,536
Deferred tax liability	1,931	1,931
Other non-current liabilities	3,613	2,285
Non-current liabilities	$ 134,021	$ 119,274
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities, Classified by Level (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Assets:
Trading investments for deferred compensation plan	$ 24,056	$ 20,085
Liabilities:
Contingent consideration for business acquisition included in accrued and other current liabilities	537	23,284
Fair Value, Measurements, Recurring \| Level 1
Assets:
Cash equivalents	465,838	564,952
Trading investments for deferred compensation plan	24,056	20,085
Liabilities:
Contingent consideration for business acquisition included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring \| Level 1 \| Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	0
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring \| Level 1 \| Cash
Assets:
Trading investments for deferred compensation plan	75	846
Fair Value, Measurements, Recurring \| Level 1 \| Common stock
Assets:
Trading investments for deferred compensation plan	1,544	0
Fair Value, Measurements, Recurring \| Level 1 \| Money market funds
Assets:
Trading investments for deferred compensation plan	7,147	7,147
Fair Value, Measurements, Recurring \| Level 1 \| Mutual funds
Assets:
Trading investments for deferred compensation plan	15,290	12,092
Fair Value, Measurements, Recurring \| Level 2
Assets:
Cash equivalents	0	0
Trading investments for deferred compensation plan	0	0
Liabilities:
Contingent consideration for business acquisition included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	129
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	4,523	719
Fair Value, Measurements, Recurring \| Level 2 \| Cash
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Common stock
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Money market funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Mutual funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 3
Assets:
Cash equivalents	0	0
Trading investments for deferred compensation plan	0	0
Liabilities:
Contingent consideration for business acquisition included in accrued and other current liabilities	0	23,284
Fair Value, Measurements, Recurring \| Level 3 \| Foreign exchange contracts
Assets:
Currency exchange derivative assets included in other current assets	0	0
Liabilities:
Currency exchange derivative liabilities included in accrued and other current liabilities	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Cash
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Common stock
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Money market funds
Assets:
Trading investments for deferred compensation plan	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Mutual funds
Assets:
Trading investments for deferred compensation plan	$ 0	$ 0

Fair Value Measurements - Chang

Fair Value Measurements - Change in Fair Value of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2020
Financial Instruments, Owned, at Fair Value [Abstract]
Beginning of the period		$ 23,284
Change in fair value of contingent consideration		5,716
Contingent consideration transferred to equity classification	$ (28,500)	(28,463)
End of the period	$ 537	$ 537

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2020	Oct. 31, 2020	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020	Oct. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration transferred to equity classification			$ 28,500,000			$ 28,463,000
Amounts held in escrow						500,000
Trading investments for deferred compensation plan			24,056,000			24,056,000		$ 20,085,000
Contingent consideration			537,000			537,000		23,284,000
Change in fair value of contingent consideration						5,716,000
Treasury shares reissued (in shares)		390,397
Equity method investments			39,900,000			39,900,000		42,100,000
Impairment of non-marketable investments			0		$ 0	0	$ 0
Impairment of long-lived assets held-for-use			0		$ 0	0	$ 0
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading investments for deferred compensation plan			24,056,000			24,056,000		20,085,000
Contingent consideration			$ 0			$ 0		0
Streamlabs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Future potential earn-out payments	$ 29,000,000
Contingent consideration								$ 23,300,000	$ 40,000
Change in fair value of contingent consideration				$ 5,700,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	$ (6,326)	$ (1,381)	$ (9,752)	$ 56
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	3,446	(739)	5,085	(1,097)
Designated as hedging instruments \| Cash flow hedges
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	(6,326)	(1,381)	(9,752)	56
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	$ 3,446	$ (739)	$ 5,085	$ (1,097)

Derivative Financial Instrume_4

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2020	Mar. 31, 2020
Derivative [Line Items]
Additional term to recognize derivative loss in Accumulated Other Comprehensive Loss	2 months
Not Designated as Hedging Instrument \| Foreign Exchange Forward And Swap
Derivative [Line Items]
Derivative term of contract	1 month
Derivative, notional amount	$ 157.2	$ 64.7
Foreign Exchange Forward \| Designated as hedging instruments \| Cash flow hedges
Derivative [Line Items]
Derivative term of contract	4 months
Derivative, notional amount	$ 166.1	$ 48
Cash flow hedge gain to be reclassified within twelve months	$ (4.9)

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Activity In Goodwill Balance (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2020USD ($)
Goodwill
Balance at the beginning of the period	$ 400,917
Currency translation	76
Balance at the end of the period	$ 400,993

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 254,987	$ 254,987
Accumulated Amortization	(151,673)	(128,046)
Net Carrying Amount	103,314	126,941
Trademark and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	45,570	45,570
Accumulated Amortization	(23,615)	(19,061)
Net Carrying Amount	21,955	26,509
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	118,807	118,807
Accumulated Amortization	(86,922)	(77,126)
Net Carrying Amount	31,885	41,681
Customer contracts/relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	90,610	90,610
Accumulated Amortization	(41,136)	(31,859)
Net Carrying Amount	$ 49,474	$ 58,751

Financing Arrangements - Narrat

Financing Arrangements - Narrative (Details) - USD ($)	Dec. 31, 2020	Mar. 31, 2020
Financing Arrangements
Outstanding borrowings	$ 0	$ 0
Line of Credit
Financing Arrangements
Maximum borrowing capacity	82,600,000
Outstanding bank guarantees	$ 37,800,000

Commitments and Contingencies -

Commitments and Contingencies - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Changes in the warranty liability:
Beginning of the period	$ 41,782	$ 37,222	$ 40,039	$ 34,229
Provision	13,692	9,608	28,575	26,652
Settlements	(8,371)	(6,840)	(22,073)	(20,544)
Currency translation	489	187	1,051	(160)
End of the period	$ 47,592	$ 40,177	$ 47,592	$ 40,177

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)	Dec. 31, 2020USD ($)
Indemnification agreement
Other Commitments [Line Items]
Amount accrued for indemnification provisions	$ 0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details)	1 Months Ended	3 Months Ended				9 Months Ended
Shareholders' Equity - Narrative (Details)	May 31, 2020USD ($)shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)SFr / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019SFr / shares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2020USD ($)SFr / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019SFr / shares	Dec. 31, 2018shares	Mar. 31, 2017USD ($)shares
Class of Stock [Line Items]
Cash dividends per share (in dollars/CHF per share) \| (per share)		$ 0.87	SFr 0.79	$ 0.74	SFr 0.73	$ 0.87	SFr 0.79	$ 0.74	SFr 0.73
Payment of cash dividends \| $		$ 146,700,000		$ 124,200,000		$ 146,705,000		$ 124,180,000
Conditional capital reserved (in shares) \| shares		17,310,662	17,310,662			17,310,662	17,310,662			34,621,324
March 2017
Class of Stock [Line Items]
Authorized amount in buyback program \| $											$ 250,000,000
Shares authorized to be repurchased (in shares) \| shares											17,300,000
May 2020
Class of Stock [Line Items]
Authorized amount in buyback program \| $	$ 250,000,000
Shares authorized to be repurchased (in shares) \| shares	17,300,000
Period to complete share repurchase program	3 years
Amount available for repurchase \| $		$ 177,600,000	SFr 177,600,000			$ 177,600,000	SFr 177,600,000
Common Stock Capital Shares Reserved For Future Issuance Employee Equity Incentive Plans
Class of Stock [Line Items]
Conditional capital reserved (in shares) \| shares		25,000,000	25,000,000			25,000,000	25,000,000

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	$ 1,705,963	$ 1,167,537	$ 1,489,268	$ 1,176,339
Other comprehensive income (loss)	15,935	(562)	17,743	(3,794)
End of the period	2,101,767	1,297,793	2,101,767	1,297,793
Total
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(118,852)	(108,930)	(120,660)	(105,698)
End of the period	(102,917)	$ (109,492)	(102,917)	$ (109,492)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(100,418)
Other comprehensive income (loss)			22,206
End of the period	(78,212)		(78,212)
Defined Benefit Plan
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(20,016)
Other comprehensive income (loss)			204
End of the period	(19,812)		(19,812)
Deferred Hedging Losses
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(226)
Other comprehensive income (loss)			(4,667)
End of the period	$ (4,893)		$ (4,893)

Segment Information - Net Sales

Segment Information - Net Sales by Product Categories, Excluding Intercompany Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net sales	$ 1,667,302	$ 902,687	$ 3,716,354	$ 2,266,603
Pointing Devices
Segment Reporting Information [Line Items]
Net sales	213,638	154,540	503,228	409,293
Keyboards & Combos
Segment Reporting Information [Line Items]
Net sales	218,269	156,333	565,246	424,061
PC Webcams
Segment Reporting Information [Line Items]
Net sales	131,700	32,165	295,020	89,041
Tablet & Other Accessories
Segment Reporting Information [Line Items]
Net sales	138,052	31,256	267,186	103,442
Gaming
Segment Reporting Information [Line Items]
Net sales	436,426	245,736	916,040	541,265
Video Collaboration
Segment Reporting Information [Line Items]
Net sales	292,500	91,964	659,278	254,941
Mobile Speakers
Segment Reporting Information [Line Items]
Net sales	72,566	92,969	145,156	200,617
Audio & Wearables
Segment Reporting Information [Line Items]
Net sales	152,952	81,934	338,592	208,576
Smart Home
Segment Reporting Information [Line Items]
Net sales	10,593	15,790	25,976	35,088
Other
Segment Reporting Information [Line Items]
Net sales	$ 606	$ 0	$ 632	$ 279

Segment Information - Net Sal_2

Segment Information - Net Sales and Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	$ 1,667,302	$ 902,687	$ 3,716,354	$ 2,266,603
Property, plant and equipment, net	96,683		96,683		$ 76,119
Americas
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	704,718	380,493	1,603,221	970,775
Property, plant and equipment, net	21,859		21,859		26,636
EMEA
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	547,044	308,907	1,147,393	719,994
Property, plant and equipment, net	6,998		6,998		5,052
Asia Pacific
Net sales to unaffiliated customers and long-lived assets by geographic region
Net sales	415,540	$ 213,287	965,740	$ 575,834
Property, plant and equipment, net	$ 67,826		$ 67,826		$ 44,431

Segment Information - Narrative

Segment Information - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Segment Reporting Information [Line Items]
Long lived assets	$ 96,683		$ 96,683		$ 76,119
Switzerland
Segment Reporting Information [Line Items]
Long lived assets	4,600		4,600		2,300
United States
Segment Reporting Information [Line Items]
Long lived assets	21,600		21,600		26,500
China
Segment Reporting Information [Line Items]
Long lived assets	$ 59,600		$ 59,600		$ 36,600
Geographic Concentration \| Consolidated net sales from continuing operations \| Switzerland
Segment Reporting Information [Line Items]
Percentage of consolidated net sales	3.00%	4.00%	3.00%	4.00%